When borrowers are facing financial distress, lenders may need act quickly and decisively to preserve the value in the business or assets.

Under Australian law, secured creditors have several options available to them when a borrower defaults on their financing facilities. These options include appointing:

• An independent business review of the borrowers business (IBR)
• An agent for the mortgagee in possession (AMIP)
• A controller
• A receiver or a receiver and manager
• A voluntary administrator or a liquidator

Each of these services can be utilised to help protect the secured creditor’s interests and maximise the value of the assets held as its security.

How we can help

At Rodgers Reidy, we have extensive experience providing each of these services to secured creditors throughout Australia. Our team of insolvency and restructuring experts draw on a portfolio of financial, operational and management experience and understands the unique challenges secured creditors face.

We work closely with our clients to develop tailored solutions that meet their needs and objectives.